US-based law firm Haynes and Boone represented TMS Cardiff Gas in its shipbuilding contract with South Korean Hyundai Heavy Industries (HHI) for the 174,000-cbm LNG carrier with XDF propulsion.
As the Greece-based LNG tanker operator informed in its statement that the shipbuilding contract includes an option for a second vessel.
TMS Cardiff Gas called the order the first in the company’s X carrier series of orders, which expands the company’s fleet of managed vessels to 10.
The vessel is scheduled for delivery in 2020 when she will enter into a seven-year time charter contract with Total Gas & Power Chartering. Haynes and Boone also represented TMS Cardiff Gas on the charter contract.
The order also marks the company’s further expansion into the LNG sector with secured term employment upon delivery, TMS Cardiff Gas said, and the company maintains its appetite for further growth in the sector, as reflected by the additional capacity made available with optional vessels for delivery in 2020 and 2021.